Ransomware has evolved significantly since 2005. Cryptolocker appeared in 2013 and caused over $27 million in damages within its first two months. It used strong encryption keys to lock victims' files until a ransom was paid in bitcoin. Over 41% of victims paid the ransom. Later variants like Cryptowall and TeslaCrypt emerged, targeting both individuals and organizations. Simplelocker also targeted Android devices. Ransomware remains a serious threat, facilitated by bitcoin payments and attackers operating from safe havens in countries like Russia. Regular backups of important files are critical to avoid potential data loss from ransomware infections.